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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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055 A001800 N
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061 001800 1000000
070 A011800 Y
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<PAGE> PAGE 23
070 P021800 N
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<PAGE> PAGE 24
074 F001800 0
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028 A012000 166903
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<PAGE> PAGE 25
028 F042000 88832
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055 A002000 N
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070 H022000 N
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070 J022000 N
070 K012000 Y
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<PAGE> PAGE 26
071 A002000 0
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<PAGE> PAGE 27
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<PAGE> PAGE 28
028 H002100 0
055 A002100 N
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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SIGNATURE DOUGLAS C. CONROY
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 4/30/98 for the J.P. Morgan Institutional Federal Money
Market Fund and is qualified in its entirety by reference to such semi-annual
report.
</LEGEND>
<MULTIPLIER> 1000
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 4/30/98 for the J.P. Morgan Institutional Short Term Bond Fund and
is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated April 30, 1998 for the J.P. Morgan Institutional Bond Fund and is
qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
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<PERIOD-END> APR-30-1998
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,636
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15,024
<NET-ASSETS> 908,291
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 29,883
<EXPENSES-NET> 558
<NET-INVESTMENT-INCOME> 29,325
<REALIZED-GAINS-CURRENT> 3,719
<APPREC-INCREASE-CURRENT> (586)
<NET-CHANGE-FROM-OPS> 32,458
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29,384
<DISTRIBUTIONS-OF-GAINS> 5,896
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,594
<NUMBER-OF-SHARES-REDEEMED> 11,704
<SHARES-REINVESTED> 2,035
<NET-CHANGE-IN-ASSETS> (3,763)
<ACCUMULATED-NII-PRIOR> 450
<ACCUMULATED-GAINS-PRIOR> 5,813
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 558
<AVERAGE-NET-ASSETS> 895,898
<PER-SHARE-NAV-BEGIN> 10.01
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> 0.33
<PER-SHARE-DISTRIBUTIONS> 0.07
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.97
<EXPENSE-RATIO> 0.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-
annual report dated 04/30/98 for the J.P. Morgan Institutional International
Equity Fund and is qualified in ite entirety by reference to such semi-
annual report
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 509239
<RECEIVABLES> 285
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 509532
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 937
<TOTAL-LIABILITIES> 937
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 414499
<SHARES-COMMON-STOCK> 41284
<SHARES-COMMON-PRIOR> 53982
<ACCUMULATED-NII-CURRENT> 330
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4668
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 89098
<NET-ASSETS> 508595
<DIVIDEND-INCOME> 3941
<INTEREST-INCOME> 542
<OTHER-INCOME> 0
<EXPENSES-NET> 2574
<NET-INVESTMENT-INCOME> 1909
<REALIZED-GAINS-CURRENT> 4785
<APPREC-INCREASE-CURRENT> 63315
<NET-CHANGE-FROM-OPS> 70009
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16640
<DISTRIBUTIONS-OF-GAINS> 16688
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3528
<NUMBER-OF-SHARES-REDEEMED> 17699
<SHARES-REINVESTED> 1473
<NET-CHANGE-IN-ASSETS> -106064
<ACCUMULATED-NII-PRIOR> 15062
<ACCUMULATED-GAINS-PRIOR> 16571
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 56
<GROSS-EXPENSE> 2574
<AVERAGE-NET-ASSETS> 528377
<PER-SHARE-NAV-BEGIN> 11.39
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> 1.55
<PER-SHARE-DIVIDEND> .35
<PER-SHARE-DISTRIBUTIONS> .35
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.32
<EXPENSE-RATIO> .96
<AVG-DEBT-OUTSTANDING> 2660
<AVG-DEBT-PER-SHARE> .06
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 4/30/98 for the J.P. Morgan Institutional Emerging Markets Equity
Fund and is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 260061
<RECEIVABLES> 346
<ASSETS-OTHER> 38
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 260445
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 107
<TOTAL-LIABILITIES> 107
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 302568
<SHARES-COMMON-STOCK> 28022
<SHARES-COMMON-PRIOR> 31075
<ACCUMULATED-NII-CURRENT> (112)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (49402)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7284
<NET-ASSETS> 260338
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 1452
<EXPENSES-NET> 257
<NET-INVESTMENT-INCOME> 1195
<REALIZED-GAINS-CURRENT> (48126)
<APPREC-INCREASE-CURRENT> 47015
<NET-CHANGE-FROM-OPS> 83
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2993
<DISTRIBUTIONS-OF-GAINS> 11850
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11165
<NUMBER-OF-SHARES-REDEEMED> 15446
<SHARES-REINVESTED> 1228
<NET-CHANGE-IN-ASSETS> (46043)
<ACCUMULATED-NII-PRIOR> 1686
<ACCUMULATED-GAINS-PRIOR> 10574
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 90
<GROSS-EXPENSE> 311
<AVERAGE-NET-ASSETS> 254338
<PER-SHARE-NAV-BEGIN> 9.86
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> (0.13)
<PER-SHARE-DISTRIBUTIONS> (0.50)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.29
<EXPENSE-RATIO> 1.46
<AVG-DEBT-OUTSTANDING> 3,025
<AVG-DEBT-PER-SHARE> 0.11
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 04/30/98 for J.P. Morgan Institutional Global Strategic Income Fund
and is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 190320
<RECEIVABLES> 8039
<ASSETS-OTHER> 28
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 198387
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 809
<TOTAL-LIABILITIES> 809
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 194919
<SHARES-COMMON-STOCK> 19156
<SHARES-COMMON-PRIOR> 10340
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 185
<ACCUMULATED-NET-GAINS> 67
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2777
<NET-ASSETS> 197578
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 5289
<EXPENSES-NET> 18
<NET-INVESTMENT-INCOME> 5271
<REALIZED-GAINS-CURRENT> (25)
<APPREC-INCREASE-CURRENT> 2775
<NET-CHANGE-FROM-OPS> 8021
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5641
<DISTRIBUTIONS-OF-GAINS> 298
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9377
<NUMBER-OF-SHARES-REDEEMED> 727
<SHARES-REINVESTED> 166
<NET-CHANGE-IN-ASSETS> 92527
<ACCUMULATED-NII-PRIOR> 185
<ACCUMULATED-GAINS-PRIOR> 389
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 140
<AVERAGE-NET-ASSETS> 146989
<PER-SHARE-NAV-BEGIN> 10.16
<PER-SHARE-NII> .39
<PER-SHARE-GAIN-APPREC> .19
<PER-SHARE-DIVIDEND> .40
<PER-SHARE-DISTRIBUTIONS> .03
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.31
<EXPENSE-RATIO> .65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 4/30/98 for the J.P. Morgan Institutional Treasury Money Market
Fund and is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 199779
<RECEIVABLES> 16
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 199805
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 554
<TOTAL-LIABILITIES> 554
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 199255
<SHARES-COMMON-STOCK> 199255
<SHARES-COMMON-PRIOR> 80922
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 199251
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3786
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 3786
<REALIZED-GAINS-CURRENT> (5)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3781
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3786
<DISTRIBUTIONS-OF-GAINS> 1
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 799866
<NUMBER-OF-SHARES-REDEEMED> 683427
<SHARES-REINVESTED> 1894
<NET-CHANGE-IN-ASSETS> 118327
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 112
<AVERAGE-NET-ASSETS> 140108
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> .027
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .027
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1
<EXPENSE-RATIO> .09
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 4/30/98 for the J.P. Morgan Institutional Service Treasury Money
Market Fund and is qualified in its entirety by reference to such semi-annual
report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 359300
<RECEIVABLES> 30
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 359340
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1808
<TOTAL-LIABILITIES> 1808
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 357534
<SHARES-COMMON-STOCK> 357534
<SHARES-COMMON-PRIOR> 35982
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 357532
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6812
<OTHER-INCOME> 0
<EXPENSES-NET> 313
<NET-INVESTMENT-INCOME> 6499
<REALIZED-GAINS-CURRENT> (2)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6497
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6499
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2899516
<NUMBER-OF-SHARES-REDEEMED> 2578144
<SHARES-REINVESTED> 180
<NET-CHANGE-IN-ASSETS> 321550
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 467
<AVERAGE-NET-ASSETS> 252890
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> .026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .026
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1
<EXPENSE-RATIO> .35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated 4/30/98 for the J.P. Morgan Institutional Service Federal Money
Market Fund and is qualified in its entirety by reference to such semi-annual
report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 12464
<RECEIVABLES> 6
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 12480
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 51
<TOTAL-LIABILITIES> 51
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12429
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 12429
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 24
<OTHER-INCOME> 0
<EXPENSES-NET> 2
<NET-INVESTMENT-INCOME> 22
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 22
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 22
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25900
<NUMBER-OF-SHARES-REDEEMED> 13471
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 12429
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 39
<AVERAGE-NET-ASSETS> 880
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .026
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial data extracted from the semi-annual
report dated April 30, 1998 for the J.P. Morgan Institutional Bond Fund - Ultra
and is qualified in its entirety by reference to such semi-annual report.
</LEGEND>
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 68,985
<RECEIVABLES> 13
<ASSETS-OTHER> 9
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,007
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 265
<TOTAL-LIABILITIES> 265
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 68,743
<SHARES-COMMON-STOCK> 6,845
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 13
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 343
<ACCUM-APPREC-OR-DEPREC> 329
<NET-ASSETS> 68,743
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 1,053
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 1,053
<REALIZED-GAINS-CURRENT> (343)
<APPREC-INCREASE-CURRENT> 329
<NET-CHANGE-FROM-OPS> 1,039
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,040
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,806
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 39
<NET-CHANGE-IN-ASSETS> 68,743
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 46
<AVERAGE-NET-ASSETS> 41,695
<PER-SHARE-NAV-BEGIN> 10.03
<PER-SHARE-NII> 0.25
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> 0.25
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.04
<EXPENSE-RATIO> 0.36
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
